Mitsubishi Motors Reports April Sales
Growing Product Line Adds More Style and Performance; Endeavor and Lancer Evolution Lead the Way
CYPRESS, Calif., May 1 -- Mitsubishi Motors North America, Inc. (MMNA) today reported April 2003 sales of 24,762 units, marking a 17.5 percent decline from record April sales of 30,029 units in 2002. Year to date, sales now tally 94,841 units.
"Despite an extremely challenging and competitive market, we are optimistic about the remainder of 2003," said Greg O'Neill, President and COO, Sales Division, MMNA. "Our strategy of launching new products in growing markets and updating the style and performance of key models justifies our positive outlook for the rest of this year."
Mitsubishi will launch four completely new vehicles in 2003 while making significant styling and performance enhancements to three other models. The Mitsubishi Lancer Evolution went on sale for the first time in the United States in February and continues to exceed expectations. April was the first full month of sales for the just-launched Endeavor and we expect momentum to build in response to a stylish new advertising campaign.
In New York last month the company unveiled a completely new, redesigned Galant sedan as well as a five-door sportwagon called the Lancer Sportback. Galant and Lancer Sportback will go on sale this fall. Later this year the company will begin selling updated versions of Lancer, Outlander and Diamante.
In releasing its April sales figures, MMNA also reported today a correction to its March 2003 sales results, reducing the company's total sales volume for March from 24,469 to 21,000 units. The revised figure excludes 3,469 vehicles that were properly sold but did not meet a delivery deadline required to be officially counted as a March sale due to logistical delays. The sales are correctly included as part of Mitsubishi Motors' April 2003 results. The correction has no impact on the company's 2002 fiscal year results.
Mitsubishi Motors North America, Inc., (MMNA) is responsible for all of the North American operations of Mitsubishi Motors Corporation. As a single company consolidated on Jan. 1, 2003, MMNA and its subsidiaries manufacture, distribute, finance and market Mitsubishi brand coupes, convertibles, sedans and sport utility vehicles through a network of nearly 700 dealers in the United States, Canada, Mexico and the Caribbean. Mitsubishi Motors sold its first vehicle in the U.S. in 1981, and began building cars here in 1988 at its manufacturing facility in Normal, Ill. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672.
Sales Results, April 2003: Mitsubishi Motors North America, Inc.
April '03 April '02 % Change % DSR Change
Month/YTD Month/YTD Month/YTD Month/YTD
Passenger
Car Sales* 18,304/65,715 23,982/95,588 -23.7%/-31.3% -26.6%/-31.3%
Sport
Utility
Vehicles** 6,458/29,126 6,047/24,740 6.8%/17.7% 2.7%/17.7%
Total
Vehicle
Sales 24,762/94,841 30,029/120,328 -17.5%/-21.2% -20.7%/-21.2%
US Assemb.
Cars 13,324/41,735 16,008/64,122 -16.8%/-34.9% -20.0%/-34.9%
Imported
Cars 4,980/23,980 7,974/31,466 -37.5%/-23.8% -39.9%/-23.8%
US Assemb.
Truck/
SUV (3) 1,794/2,029 -/- -/- -/-
Imported
Truck/
SUVs 4,664/27,097 6,047/24,740 -22.9%/9.5% -25.8%/9.5%
US Assembled
Vehicles (1) 15,118/43,764 16,008/64,122 -5.6%/-31.7% -9.2%/-31.7%
Imported
Vehicles (2) 9,644/51,077 14,021/56,206 -31.2%/-9.1% -33.9%/-9.1%
DSR - Daily Selling Rate
Selling Days MTD YTD
April 2003 26 101
April 2002 25 101
* Above totals include sales of US assembled Mitsubishi Motors
vehicles
** Includes Montero Sport, Montero and Outlander
(1) Galant, Eclipse and Eclipse Spyder
(2) Lancer, Lancer Evolution, Mirage, Diamante, Montero Sport, Montero
and Outlander
(3) Endeavor